Loan Considerations for Loan Amounts Between $200K - $417K With all the doom and gloom publications that are mostly exaggerated, many potential borrowers believe that home mortgage lending options have dried up. While underwriters and investors are scrutinizing files more closely, attractive r
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12/07/2008
FHA First-Time Buyer Tax Credit In an effort to boost the sagging real estate market and overall economy, first-time home buyers are being offered a limited time tax credit when purchasing a primary residence. The highlights of the tax credit are: · The tax credit is available for first-tim
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12/07/2008
Loan considerations for a first time buyer Lending guidelines are changing on a daily basis for every type of loan: conventional, FHA, VA & commercial. Nevertheless, there are still very attractive first-time home buyer options available. If you are or will be a first-time buyer, it is crit
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12/07/2008
How can you improve your FICO score? To improve one's credit score, it's critical to understand the factors influencing a credit score. The factors that contribute to a FICO score and the weighted percentages for each are as follows: 35% - timeliness of payments 30% - the ratio of used debt to a
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12/07/2008
How does your FICO score impact your interest rate on your loan? Low credit scores are deemed greater risk for lenders since the likelihood for defaulting on the loan increases. As such, lower FICO scores translate into higher interest rates. Mortgage lenders will group credit scores in a ra
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12/07/2008
What is a FICO score? FICO stands for Fair Isaac Corporation, a company that created the most used credit scoring model in the United States. An individual's credit score is calculated through a statistical algorithm and is used as a factor in determining the likelihood of a borrower defaulting
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12/07/2008
TOPIC: Improving conditions in Denver's market There are some signs of strengthening in our Denver market. The metro area's inventory of available resale housing decreased 20% to 23,120 units in October from October 2007. Some of this reduced inventory is attributed to homeowners taking their
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12/07/2008
The big message has not changed since last quarter - it's still a great time to be a buyer in the condo market. Prices are at a three year low in many areas, and interest rates on mortgages are still historically low.The average condo price in Metro Denver declined 4% between 2006 and 2007: from
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10/20/2008
If you have not heard already, the inventory of home on the market in Denver has been declining. This is not true in many regions of the county. Your clients, who often only see national headlines, might not be aware of this favorable news. Our market has some unusual factors at work. Let's explo
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10/20/2008
The average home price in Metro Denver increased +2% in the full year 2005 to the full year 2006. Comparing 2006 to 2007, the average home price across the metro dropped 3%, to $303,000. The average price in the first three quarters of 2008 was $272,000 vs. similar period of 2007 was $308,000: a
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10/20/2008
